Effective April 1, 1996, the Cirrus and Plus national ATM networks modified their operating rules to allow ATM owners to impose surcharges on other banks' customers who use their ATMs. Since 1996, surcharging has become widespread and has attracted a great deal of opposition. Among other things, surcharge opponents argue that the imposition of surcharges will cause customers to shift their deposits away from small banks that own few ATMs, toward large banks that own extensive networks of ATMs. This article provides empirical evidence regarding the effects of surcharging on small banks' deposit market shares and profitability.
Review of Industrial Organization – Springer Journals
Published: Oct 3, 2004
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